Business Context and Reporting Period
Company: Forum Energy Technologies, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: October 24, 2013
Reporting Period: Quarter ended September 30, 2013
Business Context: The filing announces the issuance of a press release detailing earnings results for the third quarter of 2013.
Key Financial Metrics
The provided text serves as a cover document referencing a press release (Exhibit 99.1) for detailed figures. Specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity are not present in this filing text.
- GAAP Measures: Not disclosed in this text.
- Non-GAAP Measures Referenced: EBITDA, Adjusted EBITDA, Adjusted Operating Income, and Adjusted Diluted EPS.
- Reconciliation: The filing states that a reconciliation of non-GAAP measures to GAAP measures is included in the attached press release.
Material Changes
The filing text does not provide specific data regarding material changes versus the prior comparable period. It only confirms that earnings results for the quarter ended September 30, 2013, have been announced.
Guidance, Outlook, and Management Commentary
Management Commentary on Non-GAAP Measures:
- EBITDA: Management views this as an appropriate measure for evaluating operating performance and liquidity, reflecting resources available for strategic opportunities such as investing in the business, strengthening the balance sheet, repurchasing securities, and making acquisitions.
- Adjusted Measures: Adjusted EBITDA, Adjusted Operating Income, and Adjusted Diluted EPS are considered useful for assessing operating performance and comparing results across periods, as management views excluded items as outside normal operating results.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release dated October 24, 2013) for specific revenue, earnings, and cash flow figures.
- Examine the reconciliation table in the press release to understand the adjustments made to derive non-GAAP metrics from GAAP results.
- Verify the impact of excluded items on Adjusted EBITDA and Adjusted Diluted EPS to assess the quality of earnings.
- Check for any forward-looking statements or guidance updates contained within the referenced press release.